Given the ease of international travel, financial institution customers are performing more transactions in different countries and in different currencies than previously. In the past, customers would convert money prior to traveling to a foreign country in order to conduct transactions in the local currency. Customers would need to remember to convert money, estimate how much money to convert, and deal with changing transaction rates, charges, and carrying large sums of money when traveling
Credit cards may also permit customers to conduct transactions in foreign currencies but the credit card number must be released to the merchant. Credit cards use the customer's actual account number to conduct transactions in the currency of the issuing bank, which then converts the funds in the customer's account to an equivalent amount at a later date.
Thus, there is a need for a system and method that can assist users in conducting transactions in more than one currency.